Gregg Pulled In Profit on Air Force Base Earmark

Barack Obama can be glad Sen. Judd Gregg, briefly nominated for commerce secretary, backed out. Today, the AP reports that Gregg invested heavily in efforts by his brother Cyrus to redevelop New Hampshire’s Pease Air Force Base, while earmarking federal dollars for the redevelopment. “These earmarks do not benefit me in any way, shape, manner—financially, personally or in any other manner,” says Gregg.

Pease’s closure, says Gregg, “was a devastating event.” Among the funds he helped procure to redevelop the base were $24.8 million for a federal building, and $24.5 million for National Guard projects. Cyrus Gregg’s company has built about a dozen office buildings at Pease since its closure, and Judd took in between $240,017 and $651,801 from his investment.
(More Judd Gregg stories.)